What Are Some Early Steps I Can Take Now to Start Building Wealth?
Take advantage of every form of retirement savings that you can. This can be through an employer’s retirement plan or via a SEP-IRA or other self-employed retirement account. It’s also important to start an emergency savings account. Your entire financial future can derail quickly if a big expense hits at a bad time. The people who survived the recession were the ones who did two things: they had emergency savings and they didn’t have big debt loads.
Work towards keeping six months worth of expenses in a separate account that doesn’t get touched unless there’s an emergency. (Photo: Tetra Images/Getty Images)